Nuveen Asset Management, the largest boutique investment affiliate of
Nuveen Investments, begins the new year with an expanded set of
investment capabilities as a result of its strategic combination with
FAF Advisors, which was completed on December 31, 2010. Nuveen Asset
Management, historically a leader in municipal bond investing, is now
positioned to offer investors a more complete array of high-quality
investment strategies which includes taxable fixed income, traditional
equities, asset allocation and specialized equities. In total Nuveen
Asset Management manages more than $100 billion for institutional,
high-net-worth and affluent investors.

“This marks an important step in the strategic growth of our Nuveen
Asset Management team within the Nuveen Investments family, “said Bill
Huffman, President, Nuveen Asset Management. “We are very pleased that
our newest colleagues bring a depth of knowledge and specialized
expertise that will allow our organization to benefit from their
combined talents and, most importantly, to better serve our clients for
years to come.”

Nuveen Asset Management’s Investment Leadership

Leading Nuveen Asset Management’s fixed income capabilities will be
Nuveen’s John Miller and FAF Advisors’ Tony Rodriguez. Working together,
Miller and Rodriguez will serve as co-Heads of Global Fixed Income,
taking on expanded roles to oversee Nuveen Asset Management’s $90
billion global fixed income investment platform, spanning taxable and
tax-exempt fixed income strategies. John Miller will continue to lead
and manage the municipal fixed income teams, and manage the High Yield
Municipal Bond Fund as the lead portfolio manager. Under Rodriguez’s
continuing leadership, the highly experienced taxable fixed income team
will continue to manage a broad range of strategies including short
duration, intermediate, core, high yield and total return. The addition
of these diversified strategies builds upon Nuveen’s 112-year heritage
as a leading tax-exempt fixed income investing specialist and provides
Nuveen Asset Management with immediate critical mass in the taxable
fixed income space.

Further expanding Nuveen Asset Management’s investment platform into
specialized equities is the real assets team from FAF Advisors,
featuring a highly respected and experienced real estate (REIT)
capability that is led by John Wenker. Having been with FAF Advisors
since 1992, he has been a key member of their Asset Allocation and
Investment Strategy Committees. Extending their expertise in real estate
securities investing, Wenker and his team are also responsible for a
global infrastructure equity capability that has built a strong
reputation in this important and fast growing segment of the market.

Importantly, this new combination adds significant core strengths in
equity investing. Leading Nuveen Asset Management’s Equity team and
Quantitative/Asset Allocation team will be FAF Advisors’ David Chalupnik
and Keith Hembre, respectively. As head of equities for FAF Advisors,
Chalupnik was responsible for the investment process and performance for
the equity investment team. At FAF Advisors, Hembre led the team that
managed asset allocation, index and quantitative strategies. In addition
to his continued portfolio management responsibilities and heading
Nuveen Asset Management’s Quantitative/Asset Allocation team, Hembre
will also serve as Nuveen Asset Management’s Chief Economist & Chief
Investment Strategist. With 44 years of financial industry experience
between them, Chalupnik and Hembre, along with their investment teams
add a broad range of specialized equity investment capabilities that
will greatly enhance the overall ability of Nuveen Asset Management to
provide financial professionals, consultants and their clients with
proven single-strategy equity products and dynamic multi-strategy
solutions.

Huffman adds, “With this powerful business combination and strong
continuing support from Tom Schreier, Vice Chairman of Nuveen
Investments who also serves as Chairman of Nuveen Asset Management, we
are able to capitalize on our collective and complementary strengths and
perspectives to immediately realign some of our portfolio manager
responsibilities across the products our team manages. This will
minimize disruptions, ensure continuity and best position Nuveen funds
for future growth.”

Following below is a comprehensive list of the mutual funds sub-advised
by Nuveen Asset Management for the Nuveen fund family, as of January 1,
2011. An asterisk (*) next to each mutual fund indicates that a change
or addition to the mutual fund’s portfolio management team has taken
place as part of the integration. For more information about portfolio
manager changes to a fund and the transition of the First American Funds
to Nuveen Asset Management, as well as Nuveen Investments’ enhanced
family of mutual funds, investors and financial advisors are encouraged
to visit the Nuveen/First American Funds Integration Center at http://www.nuveen.com/MutualFunds/IntegrationCenter/Questions.aspx.
This new resource center within Nuveen’s website is dedicated to
providing in-depth and user-friendly information on the transition
process, and to address questions investors and their advisors may have
about their funds.

MUTUAL FUND NAME

Ticker

Portfolio Manager(s)

Original Fund Family

EQUITY FUNDS

Nuveen Equity Income Fund

FFEIX

Cori Johnson

FAF

Gerald Bren

Nuveen Equity Index Fund

FAEIX

Walt French

FAF

David Friar

Nuveen Global Infrastructure Fund

FGIAX

Jay Rosenberg

FAF

John Wenker

Nuveen International Fund

FAIAX

Keith Hembre

FAF

Walt French

David Friar

Derek Bloom

Nuveen International Select Fund

ISACX

Keith Hembre

FAF

Walt French

David Friar

Derek Bloom

Nuveen Large Cap Growth Opportunities Fund

FRGWX

Hal Goldstein

FAF

Scott Mullnix

Jim Diedrich

Nuveen Large Cap Select Fund

FLRAX

David Chalupnik

FAF

Tony Burger

Nuveen Large Cap Value Fund

FASKX

Brent Mellumm

FAF

Kevin Earley

Nuveen Mid Cap Growth Opportunities Fund

FRSLX

Jim Diedrich

FAF

Hal Goldstein

Scott Mullnix

Nuveen Mid Cap Index Fund

FDXAX

Walt French

FAF

David Friar

Nuveen Mid Cap Select Fund

FATAX

David Chalupnik

FAF

Tony Burger

Nuveen Mid Cap Value Fund

FASEX

Kevin Earley

FAF

Brent Mellum

Nuveen Quantitative Large Cap Core Fund

FQCAX

Walt French

FAF

David Cline

David Friar

Keith Hembre

Nuveen Real Estate Securities Fund

FREAX

John Wenker

FAF

Jay Rosenberg

Nuveen Small Cap Growth Opportunities Fund

FRMPX

Rob McDougall

FAF

Jon Loth

Nuveen Small Cap Index Fund

FMDAX

Walt French

FAF

David Friar

Nuveen Small Cap Select Fund

EMGRX

Al Steinkopf

FAF

Mark Traster

Nuveen Small Cap Value Fund

FSCAX

Karen Bowie

FAF

Nuveen Tactical Market Opportunities Fund

FGTYX

David Cline

FAF

Walt French

David Friar

Keith Hembre

TAXABLE BOND FUNDS

Nuveen Core Bond Fund

FAFIX

Chris Neuharth

FAF

Tim Palmer

Wan-Chong Kung

Jeff Ebert

Nuveen High Income Bond Fund

FJSIX

John Fruit

FAF

Jeff Schmitz

Nuveen High Yield Bond Fund*

NHYAX

John Fruit

Nuveen

Jeffrey Schmitz

Nuveen Inflation Protected Securities Fund*

FAIPX

Wan-Chong Kung

FAF

Chad Kemper

Nuveen Intermediate Government Bond Fund

FIGAX

Wan-Chong Kung

FAF

Chris Neuharth

Jason O'Brien

Nuveen Intermediate Term Bond Fund

FAIIX

Wan-Chong Kung

FAF

Jeff Ebert

Nuveen Multi-Strategy Core Bond Fund*

NCBAX

Tim Palmer

Nuveen

Jeff Ebert

Marie Newcome

Nuveen Preferred Securities Fund

NPSAX

Doug Baker

Nuveen

Nuveen Short Duration Bond Fund*

NSDAX

Chris Neuharth

Nuveen

Brenda Briceno

Peter Agrimson

Nuveen Short Term Bond Fund*

FALTX

Chris Neuharth

FAF

Brenda Briceno

Peter Agrimson

Nuveen Total Return Bond Fund*

FCDDX

Tim Palmer

FAF

Jeff Ebert

Marie Newcome

STRATEGY FUNDS (FUND OF FUNDS)

Nuveen Strategy Aggressive Growth Allocation Fund

FAAGX

David Cline

FAF

Nuveen Strategy Balanced Allocation Fund

FSGNX

David Cline

FAF

Nuveen Strategy Conservative Allocation Fund

FSFIX

David Cline

FAF

Nuveen Strategy Growth Allocation Fund

FAGSX

David Cline

FAF

TAX-FREE NATIONAL BOND FUNDS

Nuveen All-American Municipal Bond Fund*

FLAAX

John Miller and Doug White

Nuveen

Nuveen High Yield Municipal Bond Fund

NHMAX

John Miller

Nuveen

Nuveen Insured Municipal Bond Fund

NMBIX

Paul Brennan

Nuveen

Nuveen Intermediate Duration Municipal Bond Fund

NMBAX

Paul Brennan

Nuveen

Nuveen Intermediate Tax Free Fund*

FAMBX

Chris Drahn

FAF

Nuveen Limited Term Municipal Bond Fund

FLTDX

Paul Brennan

Nuveen

Nuveen Short Tax Free Fund*

FSHAX

Chris Drahn

FAF

Nuveen Tax Free Fund*

FJNTX

Doug White

FAF

STATE SPECIFIC FUNDS

Nuveen Arizona Municipal Bond Fund*

FAZTX

Michael Hamilton

Nuveen

Nuveen California High Yield Municipal Bond Fund

NCHAX

John Miller

Nuveen

Nuveen California Insured Municipal Bond Fund

NCAIX

Scott Romans

Nuveen

Nuveen California Municipal Bond Fund

NCAAX

Scott Romans

Nuveen

Nuveen California Tax Free Fund*

FCAAX

Scott Romans

FAF

Nuveen Colorado Municipal Bond Fund*

FCOTX

Chris Drahn

Nuveen

Nuveen Colorado Tax Free Fund*

FCOAX

Chris Drahn

FAF

Nuveen Connecticut Municipal Bond Fund*

FCTTX

Michael Hamilton

Nuveen

Nuveen Florida Municipal Bond Fund

FLOTX

Dan Close

Nuveen

Nuveen Georgia Municipal Bond Fund

FGATX

Dan Close

Nuveen

Nuveen Kansas Municipal Bond Fund*

FKSTX

Steve Hlavin

Nuveen

Nuveen Kentucky Municipal Bond Fund

FKYTX

Dan Close

Nuveen

Nuveen Louisiana Municipal Bond Fund*

FTLAX

Steve Hlavin

Nuveen

Nuveen Maryland Municipal Bond Fund*

NMDAX

Tom Spalding

Nuveen

Nuveen Massachusetts Insured Municipal Bond Fund*

NMAIX

Michael Hamilton

Nuveen

Nuveen Massachusetts Municipal Bond Fund*

NMAAX

Michael Hamilton

Nuveen

Nuveen Michigan Municipal Bond Fund

FMITX

Dan Close

Nuveen

Nuveen Minnesota Intermediate Municipal Bond Fund*

FAMAX

Chris Drahn

FAF

Nuveen Minnesota Municipal Bond Fund*

FJMNX

Doug White

FAF

Nuveen Missouri Municipal Bond Fund*

FMOTX

Chris Drahn

Nuveen

Nuveen Missouri Tax Free Fund*

AMROX

Chris Drahn

FAF

Nuveen Nebraska Municipal Bond Fund*

FNTAX

Doug White

FAF

Nuveen New Jersey Municipal Bond Fund*

NNJAX

Paul Brennan

Nuveen

Nuveen New Mexico Municipal Bond Fund*

FNMTX

Michael Hamilton

Nuveen

Nuveen New York Insured Municipal Bond Fund*

NNYIX

Scott Romans

Nuveen

Nuveen New York Municipal Bond Fund*

NNYAX

Scott Romans

Nuveen

Nuveen North Carolina Municipal Bond Fund

FLNCX

Dan Close

Nuveen

Nuveen Ohio Municipal Bond Fund

FOHTX

Dan Close

Nuveen

Nuveen Ohio Tax Free Fund*

FOFAX

Dan Close

FAF

Nuveen Oregon Intermediate Tax Free Fund*

FOTAX

Michael Hamilton

FAF

Nuveen Pennsylvania Municipal Bond Fund*

FPNTX

Paul Brennan

Nuveen

Nuveen Tennessee Municipal Fund

FTNTX

Dan Close

Nuveen

Nuveen Virginia Municipal Bond Fund*

FVATX

Tom Spalding

Nuveen

Nuveen Wisconsin Municipal Fund*

FWIAX

Steve Hlavin

Nuveen

* Indicates a change or addition to the mutual fund’s portfolio
management team has taken place as part of the Nuveen/FAF Advisors
strategic combination. For more information about specific portfolio
manager changes to a fund please visit the Nuveen/First American Funds
Integration Center at http://www.nuveen.com/MutualFunds/IntegrationCenter/Questions.aspx.

Note: The transaction results in subsidiaries of Nuveen Investments
assuming investment management responsibilities for each of the former
First American Funds, other than money market funds, and serving as
sub-adviser to the First American closed-end funds.

About Nuveen Investments

Nuveen Investments provides high quality investment services designed to
help secure the long-term goals of institutions, high-net-worth and
affluent investors as well as the consultants and financial advisors who
serve them. Nuveen Investments markets a wide range of specialized
investment solutions which provide investors access to capabilities of
its high-quality boutique investment affiliates—NWQ, Nuveen Asset
Management, Santa Barbara, Symphony, Tradewinds, Winslow Capital and
Nuveen HydePark. In total, Nuveen Investments managed approximately $195
billion as of December 31, 2010. For more information, please visit the
Nuveen Investments website at www.nuveen.com.

An investor should carefully consider a fund’s objectives, risks,
charges and expenses before investing. For a prospectus containing this
and other information about the Fund, please contact your financial
advisor or Nuveen Investments at 800.257.8787. Read the prospectus
carefully before you invest or send money.